American Biogenetic Sciences Inc. (ABS) announced Wednesdaythat it acquired worldwide rights from Anthony McHale of theUniversity of Ulster in Northern Ireland for a series of drugtargeting systems for use in certain forms of cancer andcardiovascular conditions.
McHale's systems combine light-activatable reagents with lasertechnology to deliver active drugs to any part of the body. Thetechnique has been highly effective in destroying tumortissues, according to ABS.
Aoibheann Gibbons, a scientific adviser at ABS, could notelaborate on the technology because the company has a relatedpatent application pending. "It involves getting the drug to thesite and using a laser as a release," he said
"It's a broad-based technology that will utilize our proprietarymonoclonal antibodies and will interrelate well into ourproduct portfolio," Gibbons said. He said the company willinitially focus on drug delivery approaches using the newtechnology.
ABS (NASDAQ:MABXA) of Notre Dame, Ind., is developingmonoclonal antibody-based products for the diagnosis,prevention and treatment of cardiovascular disease and earlydiagnosis of Alzheimer's disease.
ABS's product portfolio includes MH-1, an agent that can imageblood clots in the lungs and heart; CADkit, a MAb-baseddiagnostic kit that measures fibrinogen levels in blood plasma;a hepatitis A vaccine; a probe for predisposition of breastcancer; and a diagnostic kit for predisposition of Alzheimer'sdisease.
ABS's stock was up 63 cents a share of Wednesday to $5.50.
-- Michelle Slade Associate Editor
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